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COMPANY REGISTRATION NUMBER: 04978449
ALL SEASONS INDUSTRIAL ROOFING LIMITED
Filleted Unaudited Abridged Financial Statements
31 March 2023
ALL SEASONS INDUSTRIAL ROOFING LIMITED
Abridged Financial Statements
Year ended 31 March 2023
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
ALL SEASONS INDUSTRIAL ROOFING LIMITED
Abridged Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
99,870
71,545
Current assets
Stocks
5,500
2,500
Debtors
127,544
65,922
Cash at bank and in hand
307,395
551,239
---------
---------
440,439
619,661
Creditors: amounts falling due within one year
( 24,223)
( 156,274)
---------
---------
Net current assets
416,216
463,387
---------
---------
Total assets less current liabilities
516,086
534,932
Provisions
Taxation including deferred tax
( 18,072)
( 12,721)
---------
---------
Net assets
498,014
522,211
---------
---------
ALL SEASONS INDUSTRIAL ROOFING LIMITED
Abridged Statement of Financial Position (continued)
31 March 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
497,914
522,111
---------
---------
Shareholders funds
498,014
522,211
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the board of directors and authorised for issue on 13 February 2024 , and are signed on behalf of the board by:
A.C. Exall
Director
Company registration number: 04978449
ALL SEASONS INDUSTRIAL ROOFING LIMITED
Notes to the Abridged Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House, Staverton Technology Park, Herrick Way, Staverton, Cheltenham, Glos, GL51 6TQ.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
10% straight line
Plant and machinery
-
10% straight line
Fixtures and fittings
-
10% straight line
Motor vehicles
-
20% straight line
Equipment
-
33 % straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Pension costs
The company operates defined contribution schemes for the benefit of its director and other employees. The assets of the schemes are held separately from those of the company in independently administered funds. The pension costs charges represent contributions paid by the company to the funds during the year.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 7 ).
5. Tangible assets
£
Cost
At 1 April 2022
166,826
Additions
88,831
Disposals
( 69,496)
---------
At 31 March 2023
186,161
---------
Depreciation
At 1 April 2022
95,281
Charge for the year
15,332
Disposals
( 24,322)
---------
At 31 March 2023
86,291
---------
Carrying amount
At 31 March 2023
99,870
---------
At 31 March 2022
71,545
---------
6. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
A.C. Exall
23,639
72,737
( 75,150)
21,226
--------
--------
--------
--------
2022
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
A.C. Exall
( 36,197)
59,836
23,639
--------
--------
----
--------